The U.S. Chamber of Commerce is urging the new congressional deficit-reduction committee to overhaul the tax code without taking a position on the central issue of whether higher taxes should be part of the proposal.
The Republican victories in Congress mean U.S. companies from Goldman Sachs Group Inc . to WellPoint Inc . may be able to weaken or block what they consider President Barack Obama ’s anti-business policies on health care, the environment, taxes and financial reform.
Deficit-reduction principles backed by more than 80 U.S. chief executive officers are so broad that anti-tax advocate Grover Norquist and an ally of President Barack Obama both claim their plans could satisfy the standards.
President Barack Obama won praise from business groups that have criticized his labor, health and financial regulatory policies after he agreed to extend tax cuts for all Americans and cut workers’ payroll taxes.